Western Gas Equity Partners (WGP) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Western Gas Equity Partners (NYSE:WGP) from a hold rating to a sell rating in a report issued on Saturday.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

WGP has been the topic of several other research reports. Bank of America began coverage on Western Gas Equity Partners in a research report on Tuesday, January 9th. They issued a neutral rating on the stock. Seaport Global Securities began coverage on Western Gas Equity Partners in a research report on Tuesday, October 10th. They issued a buy rating and a $49.00 price objective on the stock. Morgan Stanley cut their price objective on Western Gas Equity Partners from $45.00 to $40.00 and set an equal weight rating on the stock in a research report on Thursday, November 2nd. TheStreet cut Western Gas Equity Partners from a b rating to a c+ rating in a research report on Monday, October 16th. Finally, Scotiabank reissued a buy rating and issued a $51.00 price objective on shares of Western Gas Equity Partners in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $49.09.

Shares of Western Gas Equity Partners (NYSE:WGP) traded up $0.08 during trading on Friday, reaching $42.12. The company had a trading volume of 276,612 shares, compared to its average volume of 164,721. Western Gas Equity Partners has a 1-year low of $33.92 and a 1-year high of $47.82. The company has a market capitalization of $9,221.46, a P/E ratio of 25.37 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.91 and a quick ratio of 0.91.

Western Gas Equity Partners (NYSE:WGP) last announced its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Western Gas Equity Partners had a return on equity of 8.99% and a net margin of 16.96%. The business had revenue of $574.70 million during the quarter, compared to the consensus estimate of $530.80 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. Western Gas Equity Partners’s revenue was up 19.3% compared to the same quarter last year. sell-side analysts anticipate that Western Gas Equity Partners will post 1.7 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC lifted its position in shares of Western Gas Equity Partners by 3.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 11,536,740 shares of the pipeline company’s stock valued at $475,083,000 after buying an additional 343,660 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Western Gas Equity Partners by 5.3% during the 4th quarter. Chickasaw Capital Management LLC now owns 5,350,896 shares of the pipeline company’s stock valued at $198,839,000 after buying an additional 268,815 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Western Gas Equity Partners by 1.6% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 867,019 shares of the pipeline company’s stock valued at $35,704,000 after buying an additional 13,337 shares during the last quarter. Center Coast Capital Advisors LP lifted its position in shares of Western Gas Equity Partners by 5.0% during the 3rd quarter. Center Coast Capital Advisors LP now owns 864,477 shares of the pipeline company’s stock valued at $35,599,000 after buying an additional 41,270 shares during the last quarter. Finally, RR Advisors LLC lifted its position in shares of Western Gas Equity Partners by 5.3% during the 3rd quarter. RR Advisors LLC now owns 657,000 shares of the pipeline company’s stock valued at $27,035,000 after buying an additional 33,000 shares during the last quarter. 18.38% of the stock is currently owned by hedge funds and other institutional investors.

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About Western Gas Equity Partners

Western Gas Equity Partners, LP is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil.

Analyst Recommendations for Western Gas Equity Partners (NYSE:WGP)

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